How Wollit Works
Understand how Wollit helps build your credit.
Wollit is a Credit Health Toolkit — a collection of tools designed to help you understand, track, and strengthen your credit profile.
For £9.99/month, you get access to rent reporting, credit education courses, affordability insights, an AI credit assistant, and more. Your subscription payments are also reported to all three UK credit agencies.
There's no credit check to join, and you can cancel at any time.
Wollit is an annual subscription paid in 12 monthly instalments of £9.99.
When you subscribe, you get instant access to the full Credit Health Toolkit — including rent reporting, Credit Smart courses, Affordability Boost, Olli AI, and Credit Wins.
We provide an interest-free loan to cover your subscription, which you repay monthly. This structure allows us to report your payments to Experian, Equifax, and TransUnion each month.
You don't receive any cash — just access to all the tools, paid in a way that can help build your credit history over time.
Wollit works well if you want to understand and strengthen your credit profile over time. It's particularly suited for:
• People who want to turn their rent into credit history
• Those building credit from scratch (new to UK, students, young adults)
• Anyone preparing for a mortgage, loan, or credit card application
• People rebuilding credit after past difficulties
However, Wollit may not be suitable if you:
• Are currently in bankruptcy, an IVA, or a debt management plan
• Are regularly missing payments on existing commitments
• Cannot comfortably afford £9.99/month
If you're struggling with debt, we recommend speaking to StepChange or MoneyHelper before taking on any new financial commitments.
No. There's no credit check when you join Wollit, so signing up won't affect your credit score.
Wollit is designed to be accessible regardless of your current credit situation. Whether you have a thin file, a low score, or are rebuilding after difficulties, you can join.
However, if you're currently in bankruptcy, an IVA, a debt management plan, or struggling to keep up with existing payments, Wollit may not be the right choice. In those situations, we recommend speaking to StepChange or MoneyHelper first.
You'll get instant access to all Wollit tools as soon as you subscribe.
Your payments typically appear on your credit file within a few weeks of being reported. How this affects your credit profile depends on your individual situation — your existing history, other accounts, and overall financial behaviour all play a role.
Improving your credit score is a gradual process. There's no guaranteed timeline, but consistent, on-time payments over several months give you the best foundation.
Wollit's Credit Health Toolkit is structured as unregulated credit, which means it's not regulated by the Financial Conduct Authority (FCA). This means you won't have the same protections as with regulated credit products.
However, Wollit Ltd is authorised and regulated by the FCA for credit broking (FRN 781247). This covers our Credit Finder Service, which helps you compare credit cards and loans.
We're also registered with the Information Commissioner's Office (ICO) for data protection, and our bank connection is provided through TrueLayer, which is FCA-regulated.
It can be normal for your credit score to dip slightly when you open any new credit account — which Wollit is.
Credit agencies see a new account being added to your file, which can cause a small, temporary drop. Typically this recovers quickly as you build a track record of on-time payments.
Like any credit product, missed payments can negatively impact your credit score. If you miss a payment, it may be reported to credit agencies and appear on your credit file.
Wollit is designed to help strengthen your credit health through consistent, on-time payments. But if you're regularly missing payments on existing commitments or struggling financially, taking on additional commitments could make things worse rather than better.
If you're unsure, review your current situation and make sure you can comfortably afford the £9.99 monthly payment before signing up.
Yes. Wollit appears on your credit file with all three major UK credit agencies — Experian, Equifax, and TransUnion.
Your subscription payments are reported monthly, building a record of on-time payments over time.
If you've set up rent reporting, your rent payments will also appear separately on your Experian and Equifax files.
Wollit typically appears on your credit file within a few weeks of your first payment.
We report to credit agencies monthly, and it takes a short while for them to process and display the information. You can expect to see Wollit on your file by the middle of the month following your first payment.
Wollit should appear within a few weeks of your first payment. If you don't see it after 6-8 weeks, here's what to check:
Are you looking in the right place? — Wollit appears as a loan, so check the loans section of your credit file, not credit cards or other accounts.
Are your details correct? — Make sure your name, address, and date of birth in the Wollit app match what's on your credit file. If anything's different, contact us and we'll update it.
If everything looks correct and Wollit still isn't showing, contact our support team and we'll investigate.
Yes. Your Wollit subscription payments are reported to all three major UK credit agencies — Experian, Equifax, and TransUnion.
Different lenders check different agencies, so reporting to all three gives you the widest coverage when applying for credit.
Rent reporting is reported to Experian and Equifax only.